On October $16,$ Wynn Co$.$ bought $80$ parkas on account at $$70$ each. Terms of the purchase were $2/10$ n$/30.$ It paid for $60$ parkas on October $25$ and paid for the remaining parkas on October $30.$ If Wynn uses the NET method of accounting for discounts, prepare all required journal entries. Assume a periodic inventory system.On October $16,$ Wynn Co$.$ bought $80$ parkas on account at $$70$ each. Terms of the purchase were $2/10$ n$/30.$ It paid for $60$ parkas on October $25$ and paid for the remaining parkas on October $30.$ If Wynn uses the NET method of accounting for discounts, prepare all required journal entries. Assume a periodic inventory system.On October $16,$ Wynn Co$.$ bought $80$ parkas on account at $$70$ each. Terms of the purchase were $2/10$ n$/30.$ It paid for $60$ parkas on October $25$ and paid for the remaining parkas on October $30.$ If Wynn uses the NET method of accounting for discounts, prepare all required journal entries. Assume a periodic inventory system.